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Private laws of the State of North-Carolina, passed by the General Assembly [1862-1863]

J2 Obdinances No. 34.
Public Treasu- Seo. 3. Be it further ordained, That the Public Trecas-f^'
m^tb^eZn'ks urer of the State be, and he is hereby anthwized and di-toCfstaTe'^
rected to negotiate a loan or loans, with the several banks
Bonds for the ^f this State, or with private individuals, in such sums and
^™^'
at such times as he may deem necessary and proper, to an
amount not exceeding, in the aggregate, the sum of three
millions of dollars, including the amount already borrowed
of the banks of this State, under the provisions of an act
passed at the last session of the General Assembly, entitled
," An Act to provide ways and means for the public de-fence"—
for which the said Public Treasurer shall issue
the bonds of the State bearing six per cent, interest, and
payable twelve months after the date thereof; and should
the Public Treasurer not be prepared to pay the same at
maturity, he is hereby authorized to renew the same on
Buch terms and for such times as he may think proper, or
to negotiate new loans in lieu thereof, and he, the Pubhc
Treasurer, shall keep a true and accurate account of all
such loans, and make report thereof to the General Assem-bly
from time to time.
Anthorizesthe ggQ, 4. Be it further ordained, That those banks in this
Jms^of the'd"! State who shall loan to the State their pro rata amount of
?ri2anr$2^ the sum hereby authorised to be borrowed of them, whose
upon certain
cJiartcrs forbid their issuing bills of a less denomination
than five dollars, be, and they are hereby authorized to
issue bills of the denominations of one dollar, two dollars,
and two dollars and a half, to the extent of five per cent.
of their capital stock actually paid in : Provided, That the
same shall not be construed to authorize the said banks to
issue an aggregate amount of circulation greater than that
now authorized by their charter. This authority hereby
granted to issue bills of the denominations of one dollar,
two dollars, and two dollars and a half shall cease whenever
the General Assembly shall provide and direct, upon the
payment to the banks, the principal and interest of the suras
borrowed of them under the provisions of this ordinance.
Resumption of Sec. 5. Be it further ordained, That no bank of thiB
EsEotVe- State shall be required to resume specie payments, whilst
?endin°mone^ any portion of the amounts herein authorized to be borrow-to
the state, ed ffom such banks ^hall remain unpaid.

J2 Obdinances No. 34.
Public Treasu- Seo. 3. Be it further ordained, That the Public Trecas-f^'
m^tb^eZn'ks urer of the State be, and he is hereby anthwized and di-toCfstaTe'^
rected to negotiate a loan or loans, with the several banks
Bonds for the ^f this State, or with private individuals, in such sums and
^™^'
at such times as he may deem necessary and proper, to an
amount not exceeding, in the aggregate, the sum of three
millions of dollars, including the amount already borrowed
of the banks of this State, under the provisions of an act
passed at the last session of the General Assembly, entitled
," An Act to provide ways and means for the public de-fence"—
for which the said Public Treasurer shall issue
the bonds of the State bearing six per cent, interest, and
payable twelve months after the date thereof; and should
the Public Treasurer not be prepared to pay the same at
maturity, he is hereby authorized to renew the same on
Buch terms and for such times as he may think proper, or
to negotiate new loans in lieu thereof, and he, the Pubhc
Treasurer, shall keep a true and accurate account of all
such loans, and make report thereof to the General Assem-bly
from time to time.
Anthorizesthe ggQ, 4. Be it further ordained, That those banks in this
Jms^of the'd"! State who shall loan to the State their pro rata amount of
?ri2anr$2^ the sum hereby authorised to be borrowed of them, whose
upon certain
cJiartcrs forbid their issuing bills of a less denomination
than five dollars, be, and they are hereby authorized to
issue bills of the denominations of one dollar, two dollars,
and two dollars and a half, to the extent of five per cent.
of their capital stock actually paid in : Provided, That the
same shall not be construed to authorize the said banks to
issue an aggregate amount of circulation greater than that
now authorized by their charter. This authority hereby
granted to issue bills of the denominations of one dollar,
two dollars, and two dollars and a half shall cease whenever
the General Assembly shall provide and direct, upon the
payment to the banks, the principal and interest of the suras
borrowed of them under the provisions of this ordinance.
Resumption of Sec. 5. Be it further ordained, That no bank of thiB
EsEotVe- State shall be required to resume specie payments, whilst
?endin°mone^ any portion of the amounts herein authorized to be borrow-to
the state, ed ffom such banks ^hall remain unpaid.